Ten high-performing state universities are set to undergo a major revamp. The chosen colleges will undergo revamp of Rs 100 crore each this academic year. The grant to promote excellence under the Centre's Rashtriya Uchchatar Shiksha Abhiyaan (RUSA) will be given to these universities with NAAC ratings of over 3.51. Kolkata's Jadavpur University, Haryana's Kurukshetra University and Pune's Savitribai Phule University are some of institutions to be given this grant. However, there is a condition to this grant - these universities will have to spend the money by March 2020.
Additionally, as part of this programme these universities will be mentored by seven US universities, including Cornell, UPenn and UC Berkeley.
The Union HRD has likened these universities to the IITs of the 1960s that prospered with special funding and autonomy. RUSA is a collaborative effort between the Centre and the state, with the Centre providing almost 70 per cent of the funds.
According to a report in Times of India, these universities are also forming 'campus companies' that will receive the grants directly from the Centre. The campus companies will be allowed to raise money from additional resources.
The campus companies will be headed by Vice Chancellors and will have eminent faculty and independent domain experts. They have been asked to make presentations and proposals, submit daily updates along with weekly progress charts and undertake monthly reviews.
Savitribai Phule University, Osmania University and Karaikudi's Alagappa University have already formed their campus companies. Odisha government has given its approval to form the company, while Jammu University is in the process.
The daily mentions that Savitribai Phule University will be mentored by University of California, Berkeley, while Jammy University will be mentored by University of South Florida.